PSE Market Summary:
The Philippine Stocks Market is down on a third day to close at 5,294.97.
AGI Expects P 10B Core Net Income
Holding firm Alliance Global, Inc. (PSE:AGI) expects its core net income for the year to grow to approximately P 10B. AGI expects share of income from its subsidiary Megaworld Corporation (PSE:MEG) to be around P 4.9 billion, Emperador Distillers contributing P 4 billion, leisure property Global Estates Resorts Inc. to reach P 250 million and Mcdonald's franchisee Golden Arches Development Corporation to be P 650 million.
CPG to invest P 34B for Metro Manila Projects
Property developer Century Properties Group, Inc. (PSE:CPG) plans to sustain it strong growth in the real estate market. It is currently constructing master-planned developments within Metro Manila with projected cost of around P 34 billion.
BRN Signed Agreement to Build Iloilo Power Plant
A Brown Company, Inc. (PSE:BRN) signed an agreement with AC Energy Holdings, Inc., wholly owned subsidiary of Ayala Corp., to build a power plant in Iloilo. The power plant expects to break ground by 4th quarter this year.